Mixergy, a Cassington, UK-based provider of home energy management technologies, raised £9.2M in funding.
The round was led by EDP Ventures and Nesta, which joined Oxford Science Enterprises, Kiko Ventures, Foresight WAE Technology and Centrica.
The company intends to use the funds to support a new R&D centre at its Oxfordshire headquarters, to further develop its technology, and international expansion, starting with Portugal.
Led by Peter Armstrong, (CEO), Mixergy has a suite of IP around hot water heating, heat pump and home energy management technologies, using a patented approach to heating that exploits thermal stratification to only heat what users need.
Mixergy develops smart and connected hot water tanks which enable households to save money, and reduce their impact on the environment. Alongside the mass-market deployment of its smart hot water tanks in the UK and overseas, the company also connects a decentralised, digital network of tanks that can provide flexibility to the grid and support the clean energy transition.
FinSMEs
27/03/2023